BRIEF-John Laing signs agreement for acquisition of portfolio of five UK PPP projects

Reuters Staff

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Oct 23 (Reuters) - JOHN LAING INFRASTRUCTURE FUND LTD :

* AGREEMENT OF ACQUISITION

* SIGNED AGREEMENTS WITH RESPECT TO ACQUISITION OF A PORTFOLIO OF FIVE UK PPP PROJECTS FROM JOHN LAING GROUP PLC​

* ‍COMBINED CONSIDERATION OF APPROXIMATELY £141.2 MILLION WILL BE FINANCED BY DRAWING ON JLIF’S REVOLVING CREDIT FACILITY​

* ‍WEIGHTED AVERAGE REMAINING CONCESSION LENGTH OF FIVE PROJECTS IS 19.3 YEARS, IN LINE WITH EXISTING​

* ‍ALL PROJECTS ARE FULLY OPERATIONAL WITH EXCEPTION OF IEP PHASE 1 PROJECT WHICH REMAINS IN ITS DELIVERY PHASE​ Source text for Eikon: Further company coverage: (Bangalore.newsroom@thomsonreuters.com)